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South America News


Latin America plays take on added importance

by David Paganie, Offshore Magazine, July 16, 2014 Oil and gas exploration and production operations in Latin America might take on added importance with turmoil clouding the upstream prospects in the Middle East, eastern Europe, and western Africa. With that in mind, Offshore takes a look at one of the most successful theaters and one…

Petrobras sets new presalt production records in June

Offshore Staff, Offshore Magazine, July 21, 2014 RIO DE JANEIRO – Petrobras’s June oil production in Brazil averaged 2,008,000 b/d, up 1.7% from May’s production of 1.975 MMb/d. Including production operated by Petrobras for its partners in Brazil, the volume reached 2,135,000 b/d, up 2.1% from last month’s production of 2,092, b/d. In June, presalt…

China provides $4 billion to Venezuela in exchange for oil

by Deisy Buitrago, Reuters, July 21, 2014 (Reuters) – China will provide Venezuela with a new $4 billion credit line under an agreement signed on Monday, with the money to be repaid by oil shipments from OPEC member Venezuela. The deal was inked during a 24-hour visit to Venezuela by Chinese President Xi Jinping, who…

Construction begins on PDVSA’s Puerto La Cruz refinery revamp

by OGJ editors, Oil & Gas Journal, July 21, 2014 Construction activities have started for the long-planned expansion and modernization at Petroleos de Venezuela SA’s (PDVSA) 190,000-b/d Puerto La Cruz refinery in eastern Venezuela (OGJ Online, July 1, 2014). Construction work related to site preparation for the Puerto La Cruz refinery’s deep conversion project officially…

China to provide Venezuela loan for mineral survey

by Xinhua News Agency, via Globalpost, July 22, 2014 BEIJING, July 22 (Xinhua) — The Bank of China (BoC) announced on Tuesday that it will lend 691 million U.S. dollars to Venezuela’s top oil producer to finance the survey of mineral deposits in the country. According to a deal signed by BoC, CITIC Group and…

New thermal plant to increase LNG demand in Brazil

by Jonathan Robinson, Platts, July 18, 2014 A new natural gas-fired power plant at the Port of Suape in Brazil’s northeastern state of Pernambuco could increase LNG demand in Brazil by nearly 10,000 cu m/day (215,000 Mcf/d of gas) — the equivalent of two standard-size LNG cargoes per month. “An [LNG] regasification terminal is needed…

Brazil LNG imports up 6.4% in June

Brazil LNG imports up 6.4% in June

by Jonathan Robinson, Platts, June 17, 2014 Brazilian imports of LNG are up 6.4% so far this month, averaging 40,765 cubic meters/d in June, compared to an average 38,313 cu m/d during the prior month, according to the latest data from Platts unit, Bentek Energy. The rise in LNG imports comes as the country experiences…

Chile’s ENAP negotiates LNG contract, capacity for power plant

by Tom Azzopardi, Platts, June 25, 2014 Chile’s state energy firm ENAP is negotiating the terms of a 10-year contract to supply natural gas to a power generator, the country’s president said. Speaking at an energy industry dinner in Santiago on Tuesday, Michelle Bachelet said that the gas, supplied from the Quintero regasification terminal in…

Colombia’s largest pipeline confirms ‘very small’ oil spill

by Chris Kraul, Platts, July 22, 2014 A “very small” quantity of crude oil has spilled off Colombia’s Caribbean coast at the country’s principle offloading depot at Covenas, the country’s largest pipeline, OCENSA, said Tuesday. Few other details, including how many barrels poured in to the sea and how the spill happened, were provided, however….

India confirmed as top Asian buyer of Venezuelan crude in 2013: PDVSA

by James Bourne, Platts, July 2, 2014 India imported 403,000 b/d of Venezuelan crude in 2013, up 10.1% from 2012, while China imported 293,000 b/d, up 8.9% year on year, according to state-owned Petroleos de Venezuela, known as PDVSA. India did not import any refined products from Venezuela in 2013, according to PDVSA’s recently published…

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